The United States has sanctioned Rosneft, a move described by a former sanctions official as targeting “the most important Russian firm not yet under full US sanctions.” The state-owned oil giant, along with the privately-owned Lukoil, was hit by new penalties from the Trump administration.
This action is the most direct attempt yet to damage the Russian economy and cut off funding for the war in Ukraine. Treasury Secretary Scott Bessent blamed “President Putin’s refusal to end this senseless war” for the escalation.
The effectiveness of the sanctions is now a key question. Expert Edward Fishman noted that success “will depend on the US commitment to active, ongoing enforcement.” This means threatening foreign traders, banks, and refineries that continue to help Russia sell its oil.
The sanctions signal a significant shift in the Trump administration’s policy, which has been seen as oscillating between pressuring Kyiv and confronting Moscow. This move, coupled with the cancellation of a Trump-Putin summit, indicates a tougher stance against the Kremlin.
European allies, who had been concerned by the administration’s previous ambiguity, welcomed the announcement. The UK has already sanctioned both firms, and the EU, which has blacklisted Rosneft, is preparing its 19th sanctions package.